Average Rent in Newport, RI↑ Rents rising 8.3% YoY

Newport, RI has rental prices ranging from $1,904/month to $3,981/month in 2027, depending on unit size. The typical 1-bedroom apartment rents for $1,916/month — 37% above the national average of $1,400/month. With a median household income of $100,859/year, spending $1,916/month on a 1-bedroom represents 23% of gross income — within the recommended 30% threshold.

How Newport Compares

With an average 2-bedroom rent of $2,507/month, Newport ranks #1 most expensive of the 2 cities tracked in Rhode Island — pricier than 99% of all US cities in our data.

The Newport Rental Market

The Newport, RI area has a population of about 85,095 and 33% of households renting rather than owning. That is close to the US average renter share of ~34%.

Rent Trends

2-bedroom rents in Newport, RI have risen by $193/month (8.3%) over the past year, from $2,314 to $2,507. This rate of increase is significant and reflects strong rental demand and limited housing supply in the local market.

Affordability

To afford a 1-bedroom apartment in Newport, RI without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $76,640. The local median household income of $100,859 exceeds that threshold by $24,219, making Newport relatively accessible compared to local wages.

Rent vs. Buy

The median home value in Newport, RI is $966,419, giving a price-to-rent ratio of 32.1. With a break-even horizon of approximately 32 years, renting is likely the more financially prudent option for most residents unless they plan to stay long-term.

Neighborhoods

Home values — and by extension rent levels — vary significantly across Newport's neighborhoods. Among the highest-value areas are North End ($595,203 median home value), Kerry Hill/Van Zandt ($712,268 median home value), Downtown ($771,539 median home value). Rental prices typically follow home value patterns, with premium neighborhoods commanding higher rents than outer areas. Renters on a tighter budget may find better value in less central neighborhoods or in adjacent metros with lower overall rent levels.

Is Newport, RI Affordable?

Income needed to rent or buy, price history, and how this city compares to nearby metros.

Rent or Buy in Newport?

Break-even analysis and mortgage estimates based on local market data.

Living in Newport

Cost of living, job market, crime rates, and moving cost estimates.